A limited constitutional government calls for a rules-based, freemarket monetary system, not the topsy-turvy fiat dollar that now exists under central banking. This issue of the Cato Journal examines the case for alternatives to central banking and the reforms needed to move toward free-market money.

The more widespread use of body cameras will make it easier for the American public to better understand how police officers do their jobs and under what circumstances they feel that it is necessary to resort to deadly force.

Americans are finally enjoying an improving economy after years of recession and slow growth. The unemployment rate is dropping, the economy is expanding, and public confidence is rising. Surely our economic crisis is behind us. Or is it? In Going for Broke: Deficits, Debt, and the Entitlement Crisis, Cato scholar Michael D. Tanner examines the growing national debt and its dire implications for our future and explains why a looming financial meltdown may be far worse than anyone expects.

The Cato Institute has released its 2014 Annual Report, which documents a dynamic year of growth and productivity. “Libertarianism is not just a framework for utopia,” Cato’s David Boaz writes in his book, The Libertarian Mind. “It is the indispensable framework for the future.” And as the new report demonstrates, the Cato Institute, thanks largely to the generosity of our Sponsors, is leading the charge to apply this framework across the policy spectrum.

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Arizona Turns Immigrant Workers into Criminals

Lawmakers in Arizona must believe the state’s law enforcement officers have too much time on their hands.

A bill passed by the legislature yesterday will make it a misdemeanor to be in Arizona without proper immigration paperwork. It also directs Arizona police to question anyone about their immigration status if they have reason to suspect the person is in the country illegally. Failure to produce the proper documents could result in arrest, a $2,500 fine, and up to six months in jail.

Making and enforcing immigration law is a federal responsibility. State and local police should focus their resources on preventing crime and apprehending real criminals who pose a danger to public safety.

[The bill] is opposed by police chiefs, who worry that the law would be too costly, that it would distract them from dealing with more serious problems, and that it would sow such distrust among immigrants that they would not cooperate with officers investigating other crimes.

The right response to illegal immigration should be to change our laws to expand opportunities for legal immigration. As our numerous studies have shown, a comprehensive immigration reform bill in Congress that included a robust temporary worker program would reduce illegal immigration, make the U.S. border more secure, and boost our economy.